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Verdicts & Settlements
Since Milberg’s founding in 1965, the firm has recovered more than $50 billion for our clients while prompting meaningful changes in corporate governance.
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See More$180 Million Settlement – Blessing v. Sirius XM Radio, Inc.
In re Blessing v. Sirius XM Radio, Inc., No. 09-10035 (S.D.N.Y.)This antitrust case stemmed from the 2008 merger of Sirius Satellite Radio, Inc. and XM Satellite Holdings, Inc. that created Sirius XM, the nation’s only satellite radio company. The plaintiffs alleged that the merger of the only two U.S. satellite radio providers was an illegal move to eliminate competition and monopolize the satellite radio market. Milberg achieved a settlement for the class valued at $180 million. -
See More$775 Million Settlement – Washington Public Power Supply System Securities Litigation
In re Washington Public Power Supply System Securities Litigation, MDL 551 (D. Ariz.)In this massive securities fraud litigation, Milberg served as Co-Lead Counsel for a class that obtained, after several months of trial, settlements totaling $775 million, the largest securities fraud settlement at that time. -
See More$3.4 Billion Settlement – Avandia Marketing, Sales Practices, and Products Liability Litigation
In re Avandia Marketing, Sales Practices, and Products Liability Litigation, MDL 1871 (U.S. District Court for the Eastern District of Pennsylvania)Milberg attorneys were appointed to the Plaintiffs Steering Committee and served on the Discovery and Media Sub-Committees on behalf of thousands of patients who took the Type 2 diabetes drug Avandia, alleging the manufacturer failed to disclose the known and increased risk of heart attack and cardiac death. GlaxoSmithKline set aside $3.4 billion in 2011 to settle lawsuits. -
See More$100 Million Settlement – American Express Financial Advisors Securities Litigation
In re American Express Financial Advisors Securities Litigation, No. 04-1773 (S.D.N.Y.)This case involved allegations that American Express Financial Advisors violated securities laws by representing to class members that the company would provide tailored financial advice when the company actually provided “canned” financial plans and advice designed to steer clients into American Express and certain non-proprietary mutual funds. The case settled for $100 million and required the company to adopt various remedial measures. -
See More$1.14 Billion Settlement – Nortel Networks Corp. Securities Litigation
In re Nortel Networks Corp. Securities Litigation, No. 01-1855 (S.D.N.Y.)Milberg served as Lead Counsel for the class and the court-appointed lead plaintiff, the Trustees of the Ontario Public Service Employees’ Union Pension Plan Trust Fund, in this federal securities class action. In January 2007, the court approved a settlement valued at more than $1.14 billion.
